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Author Question: Place the following creditors on one residential property in order of priority. January 1, 2014 - ... (Read 53 times)

Mollykgkg

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on: Jun 24, 2018
Place the following creditors on one residential property in order of priority. January 1, 2014 - Initial mortgage (recorded) March 1, 2014 - Second mortgage for swimming pool (recorded) June 1, 2014 - PMSI security interest in new air conditioner that is installed on the property September 1, 2015 - Sears kitchen remodeling with new built-in appliances (PMSI recorded)

Question 2

A debtor may redeem collateral from the secured party at any time prior to sale or disposal by paying all legal costs and expenses incurred by the secured party.
  Indicate whether the statement is true or false


essyface1

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Reply #1 on: Jun 24, 2018
Answer to Question 1

1. Sears
2. Initial mortgage

3. Second mortgage

4. Air conditioner creditor (failed to record)

Answer to Question 2

TRUE


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